Complianto Consulting

  • START BUSINESS
    • Private Limited Company
    • Limited Liability Partnership
    • Section 8 Company
    • Startup India Registration
    • One Person Company(OPC) Registration
    • Trust/NGO/Society Registration
    • Digital Signature (DSC)
  • LICENSES
    • GST Registration
    • MSME Registration
    • FSSAI Registration
    • Gem Portal Registration
    • CSR-1 Registration For NGOs
    • Shop and Establishment
    • ISO Certification (ISO)
  • TRADEMARK & IP
    • Trademark Registration
    • Trademark Objection Reply
  • Income Tax
    • Income Tax
      • Income Tax Return
    • 12A
      • Online 12A and 80G Registration
  • COMPLIANCES
    • Bookkeeping And Accounting
    • PVT LTD Compliances AMC
    • LLP Compliance AMC
    • OPC Compliances AMC
  • LABOUR COMPLIANCES
    • PF Registration And Compliances
    • ESI Registration And Compliances
  • DIGITAL MARKETING
    • Digital Marketing and Services
  • Contact Us
  • Home
  • Blog
  • CBIC
  • CBIC notifies the reduction in rate of interest on late payment of GST for Mar-21 & Apr-21

CBIC notifies the reduction in rate of interest on late payment of GST for Mar-21 & Apr-21

Sunday, 02 May 2021 / Published in CBIC, GST, News & Updates

CBIC notifies the reduction in rate of interest on late payment of GST for Mar-21 & Apr-21

The Central Board of Indirect Taxes and Customs (CBIC) has vide its Notification No 08/2021 – Central Tax dated 01st May 2021 notify the reduction in the rate of interest on late payment of GST for the month of March 2021 and April 2021 for monthly filers and for the Quarter ending March 2021 for Quarterly fillers.

The summary of the notification in the tabular format is as follows:-

Category of taxpayer Period Due Date for tax payment Interest NIL Interest at the rate of 9% p.a. Interest at the rate of 18% p.a.
Taxpayer having ATO more than Rs 5 Crores in preceding FY (Monthly Filers) Mar-21 20–Apr-2021 Not Applicable From 21-Apr-2021 to 05-May-2021 From 06-May-2021 till date of payment
Apr-21 20-May-2021 Not Applicable From 21-May-2021 to 04-Jun-2021 From 05-Jun-2021 till date of payment
Taxpayer having ATO up to Rs 5 Crores but filling return on monthly basis (Monthly Filers) Mar-21 20-Apr-2021 From 21-Apr-2021 to 05-May-2021 From 06-May-2021 to 20-May-2021 From 21-May-2021 till the date of payment
Apr-21 20-May-2021 From 21-May-2021 to 04-Jun-2021 From 05-Jun-2021 to 19-Jun-2021 From 20-Jun-2021 till the date of payment
Taxpayer having ATO up to Rs 5 Crores but filling return on a quarterly basis (Quarterly Filers) Qtr Ending Mar-21 22-Apr-2021 From 23-Apr-2021 to 07-May-2021 From 08-May-2021 to 22-May-2021 From 23-May-2021 till the date of payment
Qtr Ending Mar-21 24-Apr-2021 From 25-Apr-2021 to 09-May-2021 From 10-May-2021 to 24-May-2021 From 25-May-2021 till the date of payment

The full text of the notification is as follows:-

MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF INDIRECT TAXES AND CUSTOMS)
NOTIFICATION
New Delhi, the 1st May, 2021
No. 08/2021- Central Tax

G.S.R. 304(E).—In exercise of the powers conferred by sub-section (1) of section 50 of the Central Goods and Services Tax Act, 2017 (12 of 2017) read with section 148 of the said Act, the Government, on the recommendations of the Council, hereby makes the following further amendments in notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 13/2017 – Central Tax, dated the 28th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 661(E), dated the 28th June, 2017, namely:–

(i) In the said notification, in the first paragraph, in the first proviso, in the Table after S. No. 3, the following
shall be inserted, namely: –

(1) (2) (3) (4)
“4. Taxpayers having an aggregate turnover of more than rupees 5 crores in the preceding financial year 9 per cent for the first 15 days from the due date and 18 per cent thereafter March, 2021, April, 2021
5 Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year who are liable to furnish the return as specified under sub-section (1) of section 39 Nil for the first 15 days from the due date, 9 per cent for the next 15 days, and 18 per cent thereafter March, 2021, April, 2021
6 Taxpayers having an aggregate turnover of up to rupees 5 crores in the preceding financial year who are liable to furnish the return as specified under proviso to sub-section (1) of section 39 Nil for the first 15 days from the due date, 9 per cent for the next 15 days, and 18 per cent thereafter March, 2021, April, 2021
7 Taxpayers who are liable to furnish the return as specified under sub-section (2) of section 39 Nil for the first 15 days from the due date, 9 per cent for the next 15 days, and 18 per cent thereafter Quarter ending March, 2021.”.

2. This notification shall be deemed to have come into force with effect from the 18th day of April, 2021.

[F. No. CBEC-20/06/08/2020-GST] RAJEEV RANJAN, Under Secy.

Note: The principal notification number 13/2017 – Central Tax, dated the 28th June, 2017, was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 661(E), dated the 28th June, 2017 and was last amended vide notification number 51/2020 – Central Tax, dated the 24th June, 2020, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 404(E), dated the 24th June, 2020.

Tagged under: CBIC, GST, News & Updates

What you can read next

CBDT amends the conditions for eligible investment u/s 9A(8A)
Strictly adhere to the aspect of limitation in filing appeals/ petitions before Courts/ Tribunal: CBIC
CBDT issues corrigendum to notification no 139/2021 w.r.t. Faceless Appeal Scheme 2021

Search for posts

Recent Posts

  • Compliance Calendar for June 2025

    0 comments
  • 9039

    0 comments
  • Compliance Calendar for April 2024

    0 comments

Recent Comments

    We support the Startup India initiative that aims
    to accelerate enterpreneurship in the
    country and create startup


    We support the Digital India initiative that aims
    to transform India into a digitally empowered society
    and knowledge economy

    We support the Make in India initiative that aims
    to promote India as the most
    preferred global manufacturing destination

    You manage business, we manage your compliances

    Our team is constantly working towards the highest level of compliance solutions for you.

    GET A QUOTE

    GET FREE CONSULTATION

    Our team is instrumental in ensuring 24*7 that Indian startups and MSMEs are fully compliant in this complex legal environment.

    We are continuously increasing our umbrella of services to provide one shop solution and therefore our services are ranging from registration then compliances to website development and digital marketing.

    Our Services

    • Private Limited Company
    • Trademark Registration
    • GST Registration
    • FSSAI Registration
    • Bookkeeping And Accounting
    • Limited Liability Partnership
    • MSME Registration
    • Startup India Registration
    • GST Returns
    • Income Tax Return

    Useful Links

    • About Us
    • Blog
    • Contact Us
    • Privacy and Refund Policy
    • Terms and Conditions

    COMPANY INFO

    COMPLIANTO CONSULTING

    Mon - Sat 10:30am - 7:30pm

    +91-78273-55027

    services@compliantoconsulting.com

    Ist floor, Shivaji Enclave, GN-9, Pocket GA, Rajouri Garden, Tagore Garden Extension, New Delhi, Delhi, 110027

    WE'RE SOCIAL

    Copyright @ Complianto Consulting LLP. All rights reserved

    TOP
    Close

    Get Free Consultation 

    Close the CTA
    Close

    Get Free Consultation 

    Offer

    WhatsApp us